Company registration number: 083J9436
Charity registrdtion number.. 1151146
Sebastian's Action Trust
{A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended J l March 2024
Stewart & Co Accountants LLP
Knoll House
Knoll Road
Camberley
SU￿eY
GU15 3SY

Sebastian's Action Trust
Contents
Reference and Administrative Details
Trustees, Report
2to 14
Independent Auditor's Report
15to 18
Statement of Financial Activities
19to20
Balance Sheet
21
Statement of Cash Flows
22
Notes to the Financial Statements
23to41

Sebastian's Action Trust
Reference and Administrative Details
Charity Registration Number
Company Registration Iyumber
Registered Office
1151146
08)J94i6
The Bluebells
Popham Lane
North Waltham
Basingstoke
Hampshire
RG25 2BB
Alldilor
Stewart & Co Accountants LLP
Knoll House
Knoll Road
Camberley
Surrey
GU15 JSY
Page I

Sebastian's Action Trust
Trustees, Report
The trustees, who are directors for the purposes of company law, present the annual report together with the
financial statements of the charitable company for the year ended 31 March 2024.
Objectives and activities
Objects and aims
Sebastian's Action Trust is a registered charity (Number 1151146) and a charitable company limited by
guarantee {Number 8339436), incorporated on 21st December 2012. having registered previously as an
unincorporated charity on 9th August 2004. The company was established under a Memorandum of Association
which sets out the objects and powers of the charitable company and is governed under its Articles of
Association.
The charity's purpose, as Set out in the objects contained in the company's memorandun] olassociation, is..
To relieve the needs of children with life - limiting or life - threatening tnedical conditions, and their families,
by:
(a)
The provision of respite holidays and day visits.
(b)
The provision of emotional, social and practical support with the aim of assisting families in need at
critical times, in particular, but not exclusively. emergency transport, wellbeing therapy, psycho-social
care, sibling support, help at home and bereavement care,
(c)
Raising awareness of the need to improve services and provisions for families of life-llmited children.
Sebastian's Action Trust provides a model of care designed to offer emotional, social, and practical support
aimed at reducing isolation, providing meaningful assisiance, and fostering resilience for familles facing
uncertain futures. The charity's comprehensive range of services addresses the needs of both the family unit and
individual members, including parents, the ill child, siblings, grandparents, and caregivers. Support is delivered
across various settings.. at home, in hospitals, within communities, and through dedicated facilities located in
Hampshire and Berkshire.
The charity employs a strategy centred on experienced service delivery staff, complemented by volunteers ivho
assist in delivering outreach services, bereavetnent care, and financial and welfare support. Currently, staff
members are assigned to families based on geographical proximity, ensuring localised support within defined
area5. Additionally, the charity offer5 short restorative breaks at its purp05e-built facility, The Bluebells in North
Waltham, Hampshire, a5 well as day visits at both The Bluebells and The Woodland5 in Crowthorne, Berkshire.
Sebastian's Action Trust actively seek5 feedback from sUPPOrted familie5 through a service user forurn
facilitated by staff and regular surveys. This feedback is integral to shaping and improving the charity's services.
The organisation strives to accommodate demands for its services wherever feasible, subject to available
funding.
Objeclives, slralegies and aclivilie5
This year, the Board of Trustees set a single, critical strategic priority.. stabilising the charity's finances by
balancing income and expenditure to ensure the organisation can continue providing essential services to
families. While achieving this balance in full may take more than one year. the focus remains on securing a
sustainable financial footing.
In 2022, the charity's founder retired, and this resulted in changes in the Board of Trustees and in the senior
leadership team. In 2023, a new CEO was appointed, following a period of interim leadership, and this resulted
in significant changes to the charity's plans and direction.
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Sebastian's Action Trust
Trustees, Report
Following this appointment, a considerable amount of time ivas spent exploring the charity's flnances and
understanding sources of income and where funds were held. This deep dive revealed a picture that showed the
charity has substantial funds restricted to specific projects and capital investment, but the free or unrestricted
fund5 were limited and a risk to the charity's ￿tl￿e at a time when fundraising income is reducing for many
charities.
It was decided not to proceed with developing the charity's second site, The Woodlands in Crowthorne
Berkshire. Several grants were re-purposed, added to unrestricted fund5 and some were returned to the original
donor.
This work ensured that the senior management had a clear picture of the charity's perforniance and viability,
and the result ￿'aS that the charily s auditors concluded in December 202), that material uncertainty existed as to
the Charity's ability to continue as a going concern.
As a response to the auditor's opinion, the Board of Trustees have worked to establish solid foundations from
which to develop Sebastian's Action Trust and ensure the charity continues to provide services to families with
seriously ill children.
The following six measures have been implemenled:
The site at The Woodlands in Crowthorne was put up for sale, to release funds for developing services
and income generation. An option to buy the site is in place ivith an interested party and runs for twelve
months. The charity retains the title. and the prospective purchaser leases the site until they pay the
balance of the agreed purchase price.
Consulted with staff, families who use the Services and other provider5 of 5itnilar services to ascertain
where Sebastian's Action Trust fits into the family support landscape.
A progran]me of change has been itnplemented to reduce the charity's atmual operating costs by £300k
per annum. Regrettably, this included reducing services tempordrily and scaling back the size of the
senior team.
All capital investments have been delayed and managing cash flow has been the priority.
Processes have been established to ensure costs are managed tightly, unbudgeted expenditure is reviewed
before authorisation and income forecasts are completed monthly.
The income generation funclion has been reviewed, the charity has a new fundraising strategy, is
recruiting a new team, and investmenl is being sought to fimd growth in areas identified as providing
opportunities.
In addition to these six strategic pillars of recovery implemented in the last twelve months, Sebastian's Action
Trust also continued to deliver services to families with seriously ill children.
The work to build a new fundraising team is underway and by the end of the financial year 2024-2025, we will
have a new team in place to drive sustainable income growth and diversify our incorne portfolio. This will
ensure we have the capability to switch our focus depending on fluctuations in the income generating landscape.

Sebastian's Action Trust
Trustees, Report
2024-2025 is an important financial year for Sebastian's Action Trust. Having navigated an uncertain landscape,
the charity needs to shape and deterniine its future. Using the Theory of Change as a guide, we intend to clearly
articulate our mission, and measure outputs, outcomes and the lasting change we make in the lives of those who
use our services - both for family and bereavement support. A new Service delivery model will be developed,
and a temporary specialist P05t ha5 been created to lead this work. This will include tnapping the healthcare
landscape, revising our eligibility criteria to ensure our beneficiaries are clearly defined and specific, and
integrating our services with other providers who deliver services that are like those we provide.
We intend lo develop a new strategic plan, ¢o-create a new vision, mission and organisational values, and lay
out our ambilions for our services for the nexl three years.
The year in numbers
During the year to 3 1st March 2024 the charity provided:
91 short restorative breaks to 310 individuals or 75 families.
3,765 interactions of care, in-person or virtual support 5ession5.
14,227 hours of support was given to familie5.
138 bereaved families with fv15 5UPPOrt sessions for parents and siblings.
Sadly in 2023-24.13 children who access our support died.
6) online and face-to-face events, activities and workshops with 4158 participants attending, helping to keep
families connected.
Fundroising disclosures
By reference to the principles of responsibilities of the Trustees with regard to charity fundraising below, we
have met the requirements of the Act.
l.Planning effectively - The charity's approach to monitoring of all activities undertaken by the charity or by
any person on behalf of the charity for fundraising.
The Trust's respon5e-
In December 2023, the Board ol Trustees, acting on the recotnmendation of the CEO, appointed an interirn
funthai5ing leader to asse55 our fundraising strategy, quantify return on investment, review resource5 and
identify opportunities for income growth.
Following a significant organisational restructure, a ien-month operations plan has been developed to implement
the primary recommendations arising from this review.
The day-to-day operations of our streamlined team are overseen by the CEO, Head of Family Services, Head of
Finance, and Executive Assistant. The interim leader focuses on menloring the team, establishing behavioural
sLqndards, and reinforcing fimdraising fundamentals to ensure compliance with regulatory sL￿dards.
All fundraising activities are conducted by our in-house fimdraisers. supported by interim and short-tenn
contracted slaff. We do not engage any addilional exiernal paid fundraisers or commercial partners.
Volunteer-led fundraising is supervised and supported by in-house staff who make recommendations on budget
management, ticket price where appropriate, marketing and promotion, and health and safety. In-house staff also
ensure that funds raised in the charity's name and owed to the charity, are returned.
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Sebastian's Action Trust
Trustees, Report
2. Supervising fundraisers - How Trustees have systems in place to oversee the fundraising Th'hich others carry
out on behalf of the charity. It includes responsible delegation so that staff and volunteers know what is
expected of them.
The Trust's response:
A5 a Boar(L we delegate the day-to-day tnanagement of fundraising to our Head of Fundraising, (currently an
interim), who in turn delegates responsibilities to members of the fundraising Staff.
Our fundraising team operates under a fundraising strategy revised in 202) and an annual operations plan
co-created with input from other departments. Each team member is accountable for ihe budget they sel through
annual objectives. They collaborate with our finance team to report on the phasing of income and any changes to
the budget monthly. The team members undersiand the organisational structure and the proper channels for
escalating issues or concerns.
We adopt a "test and learn" approach, encourdging team members to take ownership of their learning and
development, network extensively, and learn from peers and the activities of others.
We have established clear processes for the recruitment and engagement of volunteers. We intend to invest in
our volunteer capacity and will ensure all slaff are trdined in volunteer management. Volunteers will be given
defined and specialist roles, with a clear induction process to ensure shared and embedded expectations between
staff and volunteers.
3. Protecting our eharity's reputation. money and other assets - Having effective systems in place to identify
reputational risks and to plan for their management, planning for the charity resources used to fundrdise,
managing (and justifying) fundraising costs and protecting money raised in the charity's name.
The Trust's response-
We have a streamlined leadership team tasked ivith managing reputational i55ues within their respective areas of
expert15e. Each Head of Department is responsible for identifying and addre55ing concerns within their
functional specialism and cotnmunicating these issues to the CEO and the Board of Trustee5.
Additionally, we have established a service user panel, iyhich we consult on matters that might lead to negative
perceptions. This helps us gauge the potential impaci of our actions and make inforn]ed decisions.
We maintain close working relaiionships with our major funders, partners, and key volunteers, regularly seeking
their counsel and discussing pertinent issues with them to ensure we address any concerns proactively and
collaboratively.
4. Identifying and ensuring compliance
Ensuring the charity has suificient information and appropriate
advice to ensure fundraising complie5 Wlth all relevant legal rules.
The Trust's response:
We ensure ihat all our fundraising staff and volunteers are fully aware of their obligations and comply with all
relevant legislation and regulations. Our activilies are governed by two key bodies: the Charity Commission for
England and Wales, a non-ministerial governmeni department that regulates registered charities and maintains
the Ceniral Register ol Charities, and the Fundiaising Regulator, an independent, non-statutory body that
regulates fundraising across the charitable sector in England, Wales. and Northem Ireland. The Fundraising
Regulator sets and promotes slandards for fundraising and handles complaints.
We make every effort to ensure our activities comply with the sL￿dardS set out in the Fundraising Regulator's
Code of Fundraising Practice, which are based on legal requirements. We also adhere to The Gambling Act
2005 and the Data Protection Act 2018, which implemenls the General Data Protection Regulation (GDPR) in
the UK.
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Sebastian's Action Trust
Trustees, Report
In addition, we comply Nvith employnent laws, including those related to contracts, minimum ivage, working
hours, and anti-discrimination legislation. Our volunteer management practices meet legal requirements,
ensuring clarity regarding the status and rights of volunteers.
To protect our Staff, volunteers, and beneficiartes, we invest in Health and Safety training to ensure compliance
with relevant legislation. We conduct risk assessments and itnplement appropriate safety measures for our
activitie5 and building5. Our Health and Salety compliance is audited annually.
We are particularly mindful of activities involving children and vulnerable individuals. ensuring their safety and
well-being in all our undertakings.
S. Identifying and following recognised standard5
Fundraising Practice.
Having ￿gard to the Fundraising Regulator's Code of
The Trust's response:
We comply with the standards as sel out in the Fundraising Regulators Code of Fundraising Practice. As such
we are committed to ensuring our fimdraising is legal. open, honest, and respectful.
In line with the Fundraising Promise, we commit to upholding the highest sLqndards in all our fundraising
activities. We adhere to the standards outlined in the code and WAII acl promptly when we are made aware that
we have deviated from them. To demonstrate our commitment to good practice, we display the Fundraising
Regulator badge on all fundraising materials.
We pledge to be clear, honest, and open in all our communications. We will tell the truth and not exaggerate.
We are transparent about how we spend donations and the impact they make. We strive to explain our
funthai5ing costs and show how they serve the best interests of our cause. OUT complaints process is
straightforward and accessible, and we provide clear, evidence-based reason5 for any decisions made regarding
complaints.
Respect is fundamental to our approach. We respect the rights and privacy of our stakeholders, never pressuring
anyone to make a gift, and we honour donor5, decisions to stop supporting us. We take extra care with
individuals in vulnerable circumstances. Where required by law, w'e obtain consent before contacting supporters
and respect iheir individual preferences regarding communication. We work with the Telephone, Mail, and
Fundraising Preference Services to honour individuals wishes.
Fairness and reasonableness guide our actions. We treat everyone equitably, showing sensitivity and adapting
our approach to meet individual needs. We avoid using images or words that intentionally cause distress or
anxiety and ensure our activities do not cause nuisance or disruption to the public.
Accountability and responsibility are al the core of our operations. We manage resources responsibly and
consider the impact of our fundraising efforts. If we receive complaints, we listen respectfully and respond
appropriately. If our response is found to be unsalisfactory, we will direct people to the Fundraising Regulator.
We monitor and record the number of complaints we receive each year and make this information available to
the Fundraising Regulator upon request.
We recognise that the code includes standards that reflect the law, but it is not a legal handbook. We
acknowledge that fundraising law is complex. comes from many sources, is dynamic, and can change over time.
Should an incidence occur where further guidance is required, we are committed to seeking external legal
advice. We acknowledge and accept that ivhere there is a difference between the code and the relevant
legislation or regulation, we follow the law rather than the code.
We have not received any complaints about tundraising activitie5 carried out by the charity or anyone on its
behalf in the period.
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Sebastian's Action Trust
Trustees, Report
6. Open and accountable
Complying M'ith relevant statutory accounting and reporting requirements on
fundraising and using reporting to demonstrate the charity is well run and effective.
The Trust's response:
We have effective sy5tetns in place 50 that our tundrdising is explained clearly and openly, fully complies with
accounting and reporting obligations and is appropriately open to challenge by complainants. Last year we
received no complaints relating to our fundraising activity or undertakings.
Public benefit
The Trustees have adhered to the requirements sel out in Seciion 17 of the Charities Act 2011, paying close
attention to the public benefit guidance provided by the Charity Commission for England and Wales. This
section mandates that charities operale in a ivay thai serves the public good and aligns with their stated
charitable purposes.
Sebastian's Action Trust is currently undergoing significant transformational changes. Despite these changes,
the needs of the service users remain central to all decisions and considerations. Over the past year, adjustments
have been made to the services to ensure the charity's sustainability for the future. The ongoing service redesign
efforts aim to guarantee that the charity continues to offer essential support to families in need. Additionally,
these efforts will establish clear measures and outcomes to demonstrate the public benefit provided by the
charity.
Use of volunleers
Volunteers play a crucial role in the work of Sebastian's Action Trust and many of our volunteers have
supported the charity for more than a decade.
Volunteers are deployed at our fundraising events, for slreet and private site collections, at our family activity
days and events, and in our two charity shops. Volunteer-led fundraising is a gromtth area for the charity and we
are building the processes and resources needed to deliver this well.
In 2023124 we have scaled back our volunteering offer lo businesses who in the past have mostly worked on the
maintenance of our facilities. We intend to revise our offer so that we establish strategic, sustainable, and
mutually beneficial relationships that are not only focused on fundraising or volunteering.
In 2023124 our volunteers generously gave 5,912.25 hours of volunteering. Currently, we have 241 registered
volunteers who donate their time to support the charity's work.
We recruited volunteers to support our central adtnin and ivill be developing specialist volunteering roles to
support all areas of our operation, including providing support to families, Supervised by our paid team.
Financial review
Financial Performance
2023124 was a challenging year for Sebastian's Action Trust. This was anticipated as the impact of the
cost-of-living crisis was felt across all sources of income.
Income is down by 440/0 and expenditure has increased by 2 %. Expenditure has been carefully managed, and a
recruitment freeze and CoSt￿uttl￿g measures, have kept thi5 increase at 20/0.
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Sebastian's Action Trust
Trustees, Report
Unfortunately, this picture is reflected across the third sector with many charities reporting losses and cost
reduction measures. Many charities, particularly small organisations, are experiencing difficulties in the
post-pandemic era and a number have ceased operations entirely in the current period.
Having finished the previou5 financial year (2022-2023) with a very small uplift on the previous year (+£1,600),
at the end of March 2024 we are showing a deficit of £782,566 - anticipated b), our forecasting.
The change progranulle initiated in May 2024 designed to make further cost 5aving5 to reverse this situation, is
currently in implementation and whilsi we anticipaie ending the financial year 2024-2025 with a deficit, it will
be substantially less than ihe outturn in 202)-2024.
We have followed Charity Commission Guidance on what io do if your charity is facing financial difficulties.
We have reduced costs where possible, including not replacing staff who have left. suspending the production of
glossy publicaiions and impact reports, and limiting cosily events and activities. Staff have been reallocaled to
different roles, we have met with other charities in our catchment area who deliver services Ilke ours to ensure
beneficiaries have access to services, albeil not provided by us, and we have reduced our services whilst
retaining an element of everything we do and ensuring there is room to rebuild when fimds allow. We have also
spoken to our key funders regarding de-restricting the funds we already hold.
The Board of Trustees are confident that we have sufficient cash flow to meet our obligatlons and that we are a
going concern.
Policy on reserves
At the year end the Trust held reserves of £2,250,658 (2023 £3,03),224) and cash balances of £1,353,825 {2023
£2,056,941).
Reserves are held to enable the Trust to continue to help beneficiaries and to secure the future of the charity
even in years where income is less than expenditure.
The Trustees regularly reviewed ihe charily s reserves policy and agreed that the policy of holding at least four
month's operating costs should be maintained. On ) I st March 2024. the level of reserves, exclusive of restricted
reserves for future capital projects, is in line with this policy.
Going concern
Trustees monitor the financial position of the charity monthly and given the challenging environment for
fundraising, the Board has re-instated the lapsed Finance Cotnmittee which meets bi-monthly, to track incorne
performance and cash flow very closely. A5 reported last year there is a freeze on capital projects and the Trust
will not underwTite any capital projects until ihe fimds are available.
Forecast
A prudent financial forecast to end March 2025 has been completed and shows a defjcit (at end March 2025) of
£412k. Parallel workstreams, which have been underway since March 2024, are in progress exploring
cost-saving measures, refinancing, and disposal of The Woodlands to enable the Trust to meet the current
challenges presented by the current financial climate.
The charity has sufficient assets and reserves to meet cu￿ent and future liabilities and as such the Trustees are
confident that the charity continues to be a going concern.
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Sebastian's Action Trust
Trustees, Report
Referenee and Administrative Details
Charity Registration Number".
1151146
Company Registration Number..
08339436
Registered Office-
The Bluebells
Pophatn Lane
North Waltham
Basingstoke
Hampshire
RG25 2BB
Auditor..
Stewart & Co Accountants LLP
Knoll House
Knoll Road
Camberley
Surrey
GU15 JSY
Bankers:
Handelsbanken
Ascot
2 Queen5 Square, Ascot Business Park
A5COt
Berkshire
SL) 9FE
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees"
Brendan Dean
Fiona Wright
Vicky Westbrook
Julian Hodder (appointed 18 April 202))
Vanessa V Avlonitis (appointed 5 June 2024)
Mark Parsons (resigned 25th January 202))
Fiona Parsons (resigned I Ith April 2023)
Chief Executive OfFicer-
Hazel Bedford (appointed 15 May 2023)
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Sebastian's Action Trust
Trustees, Report
Senior Management l Leadership
Team:
Hazel BedfoTIL Chief Executive Officer (appointed 15 May 2023)
Gary Muddyman, Interim Chief Executive Officer (resigned 15 May
2023)
Caroline Hall, Finance Manager (Maternity Leave October 2024)
Ros Avery, Finance Manager {appoinled I September 2024) (matenlity
leave cover)
Ruth Paley. Trusts and Foundations Manager {resigned 29 August 2024)
Alison Evans, Head of Fundraising (resigned 26 April 2024)
Nick Mann, Facilities Manager
Assunta Soldovieri. Head of Family Services
Lorraine Mace, Head of Family Services (Maternity Leave Cover ended
2510812023)
Amy Samuel. Executive Assistant
Strueture, governanee and management
alure ofgoverning documenl
Sebastian's Action Trust is a registered charity (Number 1151146) and a charitable company limited by
guarantee {Number 8339436), incorporated on 21st December 2012. having registered previously as an
unincorporated charity on 9th August 2004. The company was established under a Memorandum of Association
which sets out the objects and powers of the charitable company and is governed under its Articles of
A550ciation.
Reeruilmenl and appoinlmenl oflrus¢ees
The recruiimeni and appointment of new trustees follow two main methods: recommendation by existing
trustees, who identify individuals wilh ihe skills and experience needed to strengthen the Boarrt and exten)al
advertisement of open positions.
Prospective trustees are interviewed by the Chair and CEO. then inviled to meet other Trustees and senior staff
to ask questions and gain insight inlo the charity's operations. Fonnal approval of the appointment is provided
by the Board of Trustees. New Iruslees must confinn acceptance of their responsibilities in line with the
charity's requirements.
New trustees receive an introductory pack with all necessary documentation to understand their responsibilities
and duties, along w'ith updates from the Charity Commission to ensure ongoing compliance and good
governance.
The Board of Trustees and the Senior Management Team meet at least quarterly to discuss strategic matters
requiring Board decisions in accordance with the charity's Constitution.
The charity has two sub￿0[nn1Ittees.' the Finance Committee and the Fatnily Service Committee. Each
sub-con]mittee is chaired by a trustee and attended by relevant members of the senior manager's team. These
committees meet quarterly to make iyell-informed recommendations and give assurance to the Board.
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Sebastian's Action Trust
Trustees, Report
Induclion and Iruining of truslees
New Trustees are inducted through briefings by the Chair and executive managetnent, together with the
provision of a Trustee starter pack. The induction process includes visiting both Trusts, sites, meeting key
personnel and shadowing staff who are delivering frontline support to beneficiaries. On?oing training and
updates are provided, with attendance at service delivery events encouraged to establish a greater understanding
of the challenges faced by our beneficiaries and ihe charity.
Arrangemenlsfor selling key managemenlper50Mnel remuneralion
The CEO salary is set and agreed by the Board of Trustees in line with the Scheme of Delegation.
Organi5olional 51ruclure
The Board of Trustees is Vltal in overseeing and guiding the charity- Their primary purpose is to ensure that the
charity fulfils its purpose, adheres to legal and regulatory requirements and uses its resource5 effectively and
responsibly.
Though not involved in day-to-day operations, the Tnjstees work closely with the CEO and other members of
the senior management team, providing support, expertise, advice and oversight.
The senior management team comprise the CEO. Head of Finance, Head of Fundraising and Engagement
(vacant) and Head of Family Services.
Relationships with related parties
Conflicts of interest, if any, are declared at Board meetings. There were no conflicts of interest reported during
the year. If any such conflict arises, the Trustee is excluded from any decision related to it.
Major risks & managetnent of those risks
Sebastian's Action Trust encourages staff to focus on risk management at an operations level, and the CEO and
Board have strategic oversight. We are working to improve our systems and processes to ensure risk
management is embedded and ownership is devolved to members of the team at all levels.
A hI￿l-level risk register identifies the tnajor risks to the organisation and the monitoring of the measure5 to
mitigate against these risk5, is delegated to senior staff, who in turn delegate to member5 of their team.
Ultimate responsibility for managing risk 51ts with the Board of Trustee5 and they review the risk register twice
a year. Our goal is to embed risk management as an essential part of our planning proce55.
On the master risk register, four major risks are in focus=
Organisational..
We fail to protect a vulnerable person or prevent injury to our beneficiaries, staff, or volunteers due to
negligence.
Income Generation..
Funding declines and we do not raise enough money to meet our obligations now and save some extra in
case our income drops further.
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Sebastian's Action Trust
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Technology..
If electronic communications fail, data and continuity could be temporarily lost, causing interruptions or
gaps in the flow of inforniation.
People..
We can't deliver service5 or generate income because we fail to recruit and keep talented staff.
In the last sixteen months, the focu5 has been on our ability to generate sufficient income to remain a viable
charity. Our financial position remains tighi, and we are closely monitoring cash flow and free reserves. Whilst
the budget deficit ai the end of March 2024 is considerable, and we anticipate a deficit at the end of this current
financial year (March 2025), the measures we have taken documented in ihis report, have resulted in a
much-improved position. Early indications from discussions with our auditors, coTJfirni we have dealt with the
issues that ￿'ere causing uncertainly.
The objective for income genera(ion for the remainder of this financial year (2024-2025), is to deliver the
forecasted budget within a reduced cosi base. Strdiegic developmenl of fimdraising, made possible by funding
from a highly valued grant-giving body, is enabling us to draw on external and short-tenn talent in a planned
and coordinated way. Not only does this mean we are benefitting from the expertise of fLmdrdisers with proven
experience, but we are also mitlgating against the risks of not achieving our income objectives due to vacancies
in the team.
Whilst income generation has been of primary concern to the organisation's survival, we have also focused on
risk mitigation concerning our operations. To keep people safe, we have reviewed how we manage risk at our
residential site. Risk assessments and audits have been updated, and we will be training staff appropriately and
ensuring risk management is a dvnamic process.
Over the past year: we have taken steps to modemi5e and secure our IT infrastructure, ensuring that we continue
to operate effectively in a fast-paced digital ivorld. As part of our ongoing con]mitment to risk management and
resilience, we have transitioned our IT system5 from an on-pretnises Server located at The Woodlands, to a
cloud-ba5ed platform. This strategic development addresses three key busine55 needs: enhancing data security,
supporting remote working and itnproving overall eificiency.
Data security.. Cloud providers offer robust security, including data encryption, regular security updates and
advanced threat detection, beyond our previous capability with an in-house server.
Remote working: The past few years have shown us how crucial business continuity plans are. To attract talent
and support a family-friendly, work-life balance, our team needs to work efficiently from different locations,
whether at home or in the field. The cloud plaifonn enables secure access to critical systems and data from
anywhere with an internel connection.
Etyiciency.. We no longer need io maintain our server. which lets us use our resources more efficiently, and the
cloud's scalability allows us to adjust our IT capacity to meet changing needs without Incurring significant costs.
Plansfor iliefulure
In summary, the strategic focus areas for the Board of Trustees in the next twelve months are:
Re-designing the services the charity provides, including reviewing referral criteri4 identifying needs
and appropriate support packages, associated outcome measures, and the resources and accreditation
needed.
Income growth including diversifying income sources, making the tnost of identified opportunitie5,
focusing on driving net income and ensuring the team is well-trained, equipped and capable.
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Trustees, Report
Developing our volunteering capacity and building on solid foundations Wlth appropriate safeguards and
processes in place.
Investing in our flagship 51te. The Bluebells in North Waltham, Hampshire. From consulting with
families, we know thi5 51te is highly valued and we want to invest in it to allow us to accominodate more
families.
Disclosure ofinformation lo audilor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any
relevant audit infornlation and to establish that the charity's auditor is aware of that inforn)ation. The trustees
confinn that there is no relevant inforniation ihai they know of and of which they know the auditor is unaware.
Statement of trustees, responsibilities
The trustees (who are also the directors of Sebastian's Action Trust for the purposes of company law) are
responsible for preparing the trustees, report and the financial statements in accordance with applicable lam, and
United Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including
FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland
Company law requires the trustees to prepare flnancial statements for each financial year. Under company law
the trustees must not approve the financial statements unless they are Satisfied that they give a true and fair view
of the state of affairs of the charitable company and of the incoming resources aTJd application of resources,
including its income and expenditure. of the charitable company for that period. In preparing these financial
statements, the irusiees are required io=
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounling standards. comprlsing FRS 102 have been followed, subject to any
material departures disclosed and explained in the fmancial statements. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at
any time the financial position of the charitable company and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable
company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible lor the tnaintenance and integrity of the corporate and financial information
included on the ¢harithble company's website. Legislation governing the preparation and disseinination of
financial statements may differ from legislation in oiher jurisdictions.
Page IJ

Sebastian's Action Trust
Trustees, Report
The annual report was approved by the trustees of the charity on 28 (ktober 2024 and signed on its behalf by..
SIGNED SECURELY
2811012024 at 1..54..18 PM UT
Fiona Wright
Trustee
Page 14

Sebastian's Action Trust
Independent Auditor's Report to the Members of Sebastian's Action Trust
Opinion
We have audited the financial statements of Sebastian's Action Trust (the 'charity') for the year ended J l March
2024, which comprise the Statement of Financial Aciivities, Balance Sheet. Statement of Cash Flows, and Notes
lo the Financial Statements, including a summary of significant accounting policies. The financial reporting
framework ihat has been applied in their preparation is United Kingdom Accounting Standards, comprising
Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republlc of Ireland, and
applicable law (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements-
give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming
resources and application of resources, including its income and expenditure, for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,.
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audil in accordance with Inlernatlonal Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are fillther described in the auditor responsibilities for
the audit of the financial statements seciion of our reporl. We are independent of the charity in accordance with
the ethical requirements thai are relevanl to our audit of ihe financial statements in the UK, Including the FRC"s
Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
We believe that the audit evidence we have obtained is sulTicient and appropriate to provide a basis for our
opinion.
Other information
The trustees are responsible lor the other infomiation. The other inforniation comprises ihe infomlalion included
in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the
financial statemenis does not cover the other informaiion an(L except to the extent otherwise explicitly stated in
our report, we do not express any fomi of assurance conclusion thereon.
In connection with our audit of the fmancial slalements, our responsibility is to read the other infonnation and,
in doing so, consider whether the other inforniation is materlally inconsistent with the financial statements or
our knowledge obtained in the audit or otherwise appears to be materially misstated. If we Identify such material
inconsistencies or apparent material misstatements, Ive are required to detennine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the
work we have perfonned, we conclude that there is a material misstatement of this other infonnation, we are
required to report that fact.
We have nothing to report in this regard.
Page 15

Sebastian's Action Trust
Independent Auditor's Report to the Members of Sebastian's Action Trust
Opinion on other matter preseribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the infomlalion given in the Trustees, Report for the financial year for which the financial statements are
prepared is consistent ivith the financial statements- and
the Trustees, Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding olthe charity and its envirotllnent obtained in the course of the
audit, we have not identified material misstatements in the Trustee5' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to
report lo you if. in our opinion..
adequate accounting records have not been kept. or relums adequate for our audit have not been received
from branches not visited by us; or
the financial statements are nol in agreemenl wlth the accounting records and returns" or
certain disclosures of truslee's remunerdtion speclfied by law are not made. or
we have not received all the infomiation and explanations we require for our audit.
Audilor responsibilities for the audit of the financial stalements
Our objectives are to obtain reasonable assurance about whether the financial slalements as a whole are free
from material misstatement, wheiher due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance: but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered maierial if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users iaken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above. lo detect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below..
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud, we
have obtained an understanding of the nature of the industry, the control environment and the legal and
regulatory frameworks that the charity operates in.
We determined that the most significant applicable legal and regulatory framework5 are those directly relevant
to the reporting framework and preparation of the financial statetnent5 (FRS 102, Cotnpanies Act 2006 and UK
tax legislation). We considered the extent to ivhich non￿O￿P11ance tnight have a material effect on the financial
statements.
We detenllined the principal risk5 which could lead to tnaterial misstatement of the financial statements to be
related to posting inappropriate journal entries and management bias in accounting estimates. We consider there
lo be no significant risks in respect of accounting estimaies.
Page 16

Sebastian's Action Trust
Independent Auditor's Report to the Members of Sebastian's Action Trust
Audit procedures perfonned by the engagement team included:
Ldentifying those tnetnbers of the charity who have the primary responsibility for ensuring cotnpliance with
laws and regulations-
Enquiries with management, to understand managements, approach to ensuring cotnpliance with laws and
regulations, and to obtain knowledge of any nOn￿O￿P11ance or potential non-compliance with law5 and
regulations that could affect the financial statements.
Evaluating managements, incentives and opponunities for manipulation of the financial statements
(including management override of controls);
Testing journal entries and perfonning analytical procedu￿$ to identify any unusual transactions, or those
outside the nonnal course of business, which may indlcate risks of material misstatement due to fraud;
Testing of balances and transactions that are subject to estimation uncertalnty by review of evidence
supporting the assumptions and judgements used. and detennining whether those judgements used indicate
potential bias-
Reading minutes of meetings of those charged with governance"
Review of legal expense accounts to identify spend which may be indicative of breaches of laws and
regulations-
Review'ing the financial statement disclosures and testing to 5UPPOrting documentation to asse55 compliance
with the provisions of law5 and regulations described above.
The engagement team also remained aiyare of the need for professional scepticism to identify any indications of
fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedu￿$ described above and the further removed non-compliance
with laws and regulations is from the evenis and transactions Teflected in the financial statements, the less likely
we ￿'OUld become aware ol it. The risk of not deiecting a material missialement due to fraud is higher than the
risk of not detecting one resulting from error, as fraud may involve deliberate coTJcealmenl by, for example,
forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council's web51te at-
wwTrv.frc.org.uklauditorsresponsibilities. This description fortns part of our auditor's report.
In identifying and assessing ihe risks of material missiatement in respect of irregularities, including fraud, we
have obtained an understanding of the nature of the industry, the control environment and the legal and
regulatory frameworks that ihe charity operates in.
We detern)ined thai the most significant applicable legal and regulatory frameworks are those directly relevant
lo the reporting framework and preparation of the financial statements (FRS 102, Companies Act 2006 and UK
LX legislation). We considered the exleni lo ivhich non-compliance might have a material effect on the financial
sLqtements.
We detennined the principal risks which could lead to material misstatement of the financial statements to be
related to posting inappropriate joumal eniries and management bias in accounting estimates. We consider there
to be no significant risks in respect of accounting estimates.
Page 17

## **Sebastian's Action Trust** 

## **Independent Auditor's Report to the Members of Sebastian's Action Trust** 

## **Use of our report** 

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

Lucy Evans BSc BFP FCA (Senior Statutory Auditor) For and on behalf of Stewart & Co Accountants LLP, Statutory Auditor 

Knoll House Knoll Road Camberley Surrey GU15 3SY 

28 October 2024 

Page 18 



Sebastian's Action Trust
Statement of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expenditure Account)
Unrestricted
funds
Restricled
funds
Totsl
2024
Note
Ineome and Endowments from:
Donations and legacies
Other trading activities
Investment income
Other income
274.893
364.fv15
13,655
2,400
305,232
459
580,125
365,104
13,655
2,400
Total income
655,59)
305,691
961,2&1
Expenditure on:
Raising funds
Chariiable activities
(588,06))
(768,897)
(10,449)
()76,441)
(598,512)
(1,145,i)8)
Total expenditure
( I,J56,960)
(J86,890}
(1,74J,850)
Net expenditure
Transfers between funds
(701,J67)
418.856
(81,199)
(418,856)
(782,566)
Net movement in funds
(282,511)
(500,055)
(782,566)
Reconciliation of funds
Total funds brought forward
.109.J88
1,92),8)6
J,OJ3,224
Total funds carried forward
18
826,877
1,42J,781
2,250,658
The note5 on page5 23 to 41 fonn an integral part olthe5e financial statement5.
Page 19

Sebastian's Action Trust
Statement of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expenditure Account)
Prior Period Slatemenl of Financial Aclivilie5
un￿strICted
funds
Restricted
funds
Tolal
2023
Note
Ineome and Endowments from:
Donations and legacies
Other trading activities
Investment income
Other income
528,419
413,109
29
2,160
767,357
1,650
1,295,776
414,759
29
2,160
Total income
94J,717
769,007
1,712,724
Expenditure on:
Raising funds
Charitable activities
(605,) l J)
(517,064)
(10,)08)
(578,4J8)
(615,621)
(1,095,502)
Total expenditure
(1,122,J77)
(588,746)
(1,711,123)
Net (expenditure)lincome
Transfers between funds
(178.660)
256,489
180.261
(256,489)
1,601
Net movement in funds
77,829
(76,228)
1,601
Reconciliation of funds
Total funds brought forward
.Oi1,559
2,000,064
J,OJ1,62J
Total funds carried forward
18
1,109,J88
1,92J,8J6
3,OJ3,224
All of the charity's activities derive from continuing operdtions during the above two periods.
The statement of f￿anCIal activities includes all gains and losses recognised in the year.
The funds breakdown for 2024 and 2023 is shown in note 18.
The note5 on page5 23 to 41 fonn an integral part olthe5e financial statement5.
Page 20

Sebastian's Action Trust
(Registration number: 08339436)
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
14
2,170,789
81
2,350,914
15
2,170,870
2,350,995
Current assets
Stocks
Debtors
Cash at bank and in hand
24
24,947
28
27
76,976
2,056,941
I,J5),825
1,409,9JO
2,169,752
Creditors: Amounts falling due within one vear
29
(958,622)
(1,094,003)
Net current assets
451,)08
1,075,749
Total assets less current liabilities
2,622,178
),426,744
Creditors: Amount5 falling due after Njore than one year
22
(J71,520)
(393,520)
Net assets
2,250.658
3,033,224
Funds of the charity:
Restricted
1,423,781
1,923,836
Unrestricted income funds
Designated Funds
General Funds
221,770
605,107
342,004
767,i84
Total unrestricted funds
826,877
1,109,J88
Total funds
18
2,250.658
3,033,224
These financial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companies regime.
The financial statements on pages 19 to 41 were approved by the trustees, and authorised for issue on 28
October 2024 and signed on their behalf by:
SIGNED SECURELY
2811012024 at 1'.54'.18 PM UTC
Fiona Wright
Trustee
The note5 on page5 23 to 41 fonn an integral part olthe5e financial statement5.
Page21

Sebastian's Action Trust
Statement of Cash Flows for the Year Ended 31 March 2024
2024
2023
Note
Cash flows from operating activities
Net cash (expenditure)lincome
(782,566)
1,601
Adjuslmentsfor."
Depreciation
Investment income
Interest payable
110,628
(1),655)
32,769
114,534
(29)
(652,824)
lJ8,942
Working capilal adjuslments
Decreasel(increase) in stocks
Decrease in debtors
Decrease in creditors
(Decrease)lincrease in deferred income
24
10,888
45,818
(27,455)
(105,199)
(19,058)
76,702
(466)
909,468
28
29
29
Net cash flows from operating activities
(728,772)
1,105,588
Cash flows from investing activities
Interest receivable and similar income
Purchase of tangible fixed assets
Sale of tangible fixed assets
29
(118,739)
14
14
(62,646)
1)2,14)
Net cash flows from investing activities
(118,710)
Cash flows from financing activities
Interest payable and similar charges
Repayment of loans and borrowings
Repayment of capital element of f￿ance leases and HP contracts
(J2,769)
(22,000)
(2,727)
(22,8)6)
(22,000)
(10,741)
29
25
Net cash flows from financing activities
(57,496)
(55,577)
Net (decrea5e)/increase in cash and cash equivalents
(70),116)
9Jl,301
Cash and cash equivalents at l April
2,056,941
1,125,640
Cash and cash equivalents al J l March
I,J5J,825
2,056,941
All of the cash flows are derived from conlinuing operalions during the al)ove two periods.
The note5 on page5 23 to 41 fonn an integral part olthe5e financial statement5.
Page 22

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
I Charity status
The charity is a Charity limited by guarantee, incorporated in England and Wales, and consequenily does not
have share capital. Each of the irustees is liable to contiibute an amount not exceeding £Nil towards the assets of
the charity in ihe event ol liquidation.
The registered office is The W(K)dlands, Upper Broadmoor Road, Crowthorne, RG45 7FN.
2 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance w'ith Accounting and Reporting by Charities..
Statement of Recommended Practice (applicable to charilies preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019)
(Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) and the Companies Act 2006.
Basis of preparalion
Sebastian's Action Trust meets the definition of a public benefit entity under FRS 102.
Assels and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accouniing policy notes.
The financial statements are prepared in sterlin& which is the functional currency of the entity.
Monetary amounts in these financial statements are rounded to the nearest £.
Summary of significant accounting policie5 and key accounting estimate5
The principal accounting policies applied in the preparation of these financial 5tatevnents are set out below.
These policie5 have been consistently applied to all the years presented, unle55 Otherwise stated.
Going concern
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material
uncertainties related to events or conditions that may cast signifjcant doubt on the ability of the charity to
continue as a going concern. The trustees make this assessment in respect of a period of one year from the date
of approval of the financial statements.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going
concern.
Page 2J

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Judgements
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounis reported. These estimates and judgements are continually reviewed and are
based on experience and other factors. including expecthiions of future events that are believed to be reasonable
under the circumsiances. It is ihe opinion of the trustees that due to the nature of the entity there are no
assumptions or judgements that have a significant risk of causing a material adjustment to the carrying amounts
of assets and liabilities within the next financial year.
Key sources of estimation uncertainty
Useful economic live5 of tangible assets= The annual depreciation charge for tangible assets 15 sensitive to
changes in the estimated useful economic lives and residual values of the assets. These are amended when
necessary to reflect current estimates, based on economic utilisation and physical condition of the assets.
Income and endowmenls
All income is recognised once the charity has entitlement to the income. it is probable that the income will be
received and the amount of the income receivable can be measured reliably.
Donulions and legacie5
Donations are recognised when the charity has been notified in writing of both the amount and settlement date.
In the event that a donation is subject to conditions that require a level of performance by the charity before the
charity is eniitled to the funds. the income is deferred and not ￿CogniSed until either those conditions are fully
met, or the fulfilmeni ol those conditions is wholly within the control of the charity and it is probable that these
conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the
administratorlexecutor for the estate has communicated in wrlling both the amount and settlement date. In the
event that the gifi is in the fonn of an assei oiher than cash or a financial asset traded on a recognised stock
exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable
accuracy and the title to the asset having been transferred io the charity.
Grunts receivuble
Grants are recognised when the charity has an entitletnent to the funds and any conditions linked to the grants
have been met. Where performance conditions are attached to the grant and are yet to be inet, the income is
recognised a5 a liability and included on the balance sheet as deferred incotne to be released.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the
period for which, it has been received. Such income is only deferred when=
The donor specifies that the grant or donation musl only be used in future accounting perlods. or
The donor has imposed conditions which musi be met before the charity has unconditional entitlement.
Page 24

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Gifts in kind
Gifts in kind are recognised in different ways dependent on how they are used by the charity-
(i) Those donated for resale produce income when they a￿ sold. They are valued at the amount actually
realised.
(li) Those donated lor onward transmission to beneficiaries a￿ included in the Statement of Financial Activities
as incoming resources and resources expended when they a￿ distributed. They are valued at the amount the
charity would have had to pay to acquire them.
(iii) Those donated for use by the charity itself are included when receivable. They are valued at the amount the
charity would have had to pay lo acquire them.
Otlier trading aclivities
Income from other trading activities is recognised when received.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend
due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable
settlement is required and the amount can be measured reliably. All costs are allocated to the applicable
expenditure heading that aggregate sitnilar costs to that category. Where costs cannot be directly attributed to
particular headings they have been allocated on a basis consistent with the use of resources, with central staff
Costs allocated on the basis of titne spent: and depreciation charges allocated on the portion of the asset's use.
Other 5UPPOrt cost5 are allocated based on the spread of staff costs.
Raisingfunds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in
trading activities that raise fi￿ds.
Cliorilable aclivities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services
for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an
indirect nature necessary to support them.
Support costs
Support and governance cosls incurred are apportloned across the charitable activities based on the time support
sLqff spend working on each one.
Governance costs
Governance costs include the costs attributable to the charity's compliance with consti￿tIOnal and statutory
requirements, including audit, strategic management and trustee meetings.
Page 25

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Taxation
The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and
therefore it meets the definilion of a charitable companj for UK corporation lax purposes. Accordingly, the
charity is potentially exempt from t&xaiion in respect of income or capithl gains received within categories
covered by Chapter 3 Part I l of the Corporation T&x Aci 201 O or Section 256 of the Taxation of Chargeable
Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated
residual value, over their expected useful economic life as follows=
A55et class
Depreciation method and rate
Beiween l and 50 years straight line on
cost
Freehold land and buildings
Plant and equipment
Between 2 and l O years straight line on
cost
Fixtures and fittings
Computer equipment
Motor vehicles
200/0 - J) /0 Straighi line on cost
250/0- 500/0 Straighi line on Cost
2 jQ/o reducing balance
Depreciation to be recognised on receipt
of planning perniission
Building improvements Phases 4 & 5
Impairment of fixed assets
At each reporting end date, the charity revieivs the carrying amounts of its Lqngible assets to detennine whether
there is any indication that those assets have suffered an impainnent loss. If any such indication exlsts, the
recoverable amount of the assel is estimaled in order to detemiine the extent of the impairnient loss (if any).
Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for
impairment annually, and whenever there is an indication that the asset may be impaired.
Fixed asset investments
Fixed assel investments, other than programme relaied investments, are included at market value at the balance
sheet date. Realised gains and losses on investments are calculated as the difference beiween sales proceeds and
their market value at the sthrt of the year, or their subsequent cost, and are charged or credited to the Statement
of Financial Activities in ihe period of disposal.
Unrealised gains and losses represent the movemenl in markel values during the year and are credlted or
charged to the Statement of Financial Aciivities based on the market value at the year end.
Investmenl in subsidiaries
Investment in subsidiaries is included at cost less impairfflent value at the balance sheet date.
Page 26

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Stock
Stock is valued at the lower of cost and estimaled selling price less costs lo complete and sell. after due regard
for obsolete and slow moving stocks. Cost is detemlined using the first-in, first-out {FIFO}.
Items donated to the Charity for resale are not included in the financial statements until they are sold or
distributed.
Items donated to the Charity for distribution lo beneficiaries are recognised as stock, with the corresponding
income recognised within donations and measured ai fair value. Where it is impractlcal to assess the value of
donated stock held for distribution lo beneficiaries at the time of receipt, the value to the Charity of the gift is
recognised w'ithin donations when it is distributed, with an equivalent amount recognised as chariLqble
expenditure.
Cash and Cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn h]￿lY liquid
investments that are readily convertible to a knoivn amount of cash and are subject to an insignificant risk of
change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an
unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date, they are presented as non-current liabilities.
Trade creditor5 are recognised initially at the transaction price and subsequently measured at amortised cost
using the effective interest method.
Borrowings
Interest-bearing borrowings are inilially recorded at fair value, net of transaction costs. Interest-bearing
borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of
transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial
Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable
and similar charges.
Borrowing5 are cla55ified a5 current liabilities unless the charity has an unconditional rigJ]t to defer settlement of
the liability for at least twelve tnonths after the reporting date.
Fund slructure
Unrestricted income funds are general funds thal are available for use at the trustees discretion in furtherance of
the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specifjc purposes, the use of which
is restricted to that area or purpose.
Page 27

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Pensions and other post retirement obligations
Contributions to defined contribution plans are recognised as an expense in the period in which the related
service is provided. Prepaid Contributions are recognised as an asset to the extent ihat the prepayment ivill lead
lo a reduction in future payments or a cash refund.
When contributions are not expected io be settled wholly within 12 months of the end of the reporting date in
which the employees render the related service, the Ilability is measured on a discounted present value basis.
The unwinding of the discounl is recoyised as an expense in the period in which it arises.
Pension contributions are allocated to activities by reference to the activity sLqff members are employed to carry
out. Pension contributions paid for staff funded by a restrlcted grant are allocated as a restrlcted expense.
3 Income from donations and legacies
Unrestricted
Totsl
2024
Totsl
2023
General
Restricted
Donations and legacies;
Donations and gifts
Legacies
194,)76
2,825
23,736
218,112
2,825
375,215
Grants receivable
Donated goods and services
27,450
50,242
281,496
J08,946
50,242
754,072
166,489
274.89J
)05,2J2
580,125
1,295,776
Donated goods and Services include food donated for emergency packs and toys & gifts for distribution to
beneficiaries.
Unrestri¢led funds
Designated
General
Restricted
funds
Total
2024
Total
2023
Grants received in the year
St James Place Charitable
Foundation
Edward Gostling Foundation -
Facilities
The Henry Smith Charity -
Bereavement Care
Rothschild Foundation -
Bereavement care
BBC Children in Need- Youth
Support Workers
National Lottery Cotnmunity
Fund - Outreach Services
Berkshire Community Foundation
Outreach services
Awards for All - Youth support.
art & gardening
Edward Gostling Foundation -
Other
Heart of Bucks - Outreach /
Respite for Bucks
loo,000
loo,000
150,000
loo,000
loo,000
66,667
57,308
57,308
39,042
8,000
8,000
8,667
3,800
3,800
41,798
153,628
13.521
9.950
i 00,000
Page 28

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Hospital Saturday Fund - Respite
breaks
Other grants
2,000
164.435
754,072
27,450
27,450
281.496
)08.946
Grants received from sotne donors have perforniance condition5 attached and as such incotne 15 recognised in
the period the perfortnance conditions are met.
4 Income from other trading aetivities
Unrestricted
Total
2024
Totsl
2023
General
Restricted
Income from fundraising events
Other income from other trading
activities
182,91)
320
183,233
244,708
181,7)2
li9
181,871
170,051
459
J65,104
414,759
Income from BAS Books amounted to £34,686 (2023: £29,796). Income from BAS Books and Home amounted
to £121,789 (2023.. £133,479).
5 Inveslment income
Unrestricted
Total
2024
Tolal
2023
General
Interest receivable
29
6 Other income
Unrestricted
Total
2024
Total
2023
General
Rental income
2,400
2,400
2,160
Page 29

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
7 Expenditure on raising funds
a) C05t5 of generating donatlons and legacies
Unrestricted
Total
2024
Total
2023
General
Restricted
Note
Other fi￿draISing costs
Staff costs
Depreciation, amortisation
and other similar costs
Allocated support costs
lJ7.279
J09.779
137,279
Jll,029
184,797
288,897
1,250
7,161
7,161
14J,04J
6,952
134,975
9,199
588,06)
10.449
598.512
615,621
8 Expenditure on charitable aetivities
Anoly515 byfund
Unrestrieted
funds
General
Restricted
funds
Total
2024
Total
2023
Service delivery
Facilities
Raising awareness
521,087
228.571
228,602
147,515
749,689
376,086
19,56)
773,3&1
268,287
768,897
)76.441
1,145,)J8
1,095,502
££768,897 (2023 ££517,064) of total expenditure on charitable activities was attributable to unrestricted and
£376,441 (2023 - ££578,4J8} to restricted.
Anolysis by type
Aclivily
undertaken
directly
Activity
support costs
2024
2023
Service delivery
Facilities
Raising awareness
610,927
288,922
15,596
138,762
87,164
3,967
749.689
376.086
19,563
773,384
268,287
53,831
915,445
229,89J
1,145,)38
1,095,502
Page JO

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Analysis olcosts of oclivilies undertaA"en dirertly
Service
delivery
Raising
aiTr'arene55
Total
2024
Tolal
2023
Facilitie5
Staff costs including
contractors
42J,685
5,066
428,751
2JO,244
56,531
465,J50
104,516
38,914
52,614
14,199
28,865
149,407
2,387
Depreciation and impairnient
Rent and utililies
Repairs and maintenance
Insurance
Travel and subsistence
Direct costs
Training
181,89J
17.099
17,099
26,659
121,460
1,302
26,659
110,9JO
1,302
610,927
288,922
15,596
915,445
856,252
9 Analysis of sUPPOrt Costs
Expenditure on Charitable Activities
Expenditure
on Raising
Funds
Service
delii'ery
Raising
aw'areness
Total
2024
Total
2023
Facilities
Support costs
Staff costs
Rent and utilities
Repairs and maintenance
Printing, postage and
stationery
Subscriptions
Training
Sundry
Interest and charges
Computer costs
Depreciation
Legal and professional
fees
102,102
76.455
2,522
84
269,262
295,718
2,944
1,191
965
252
34
2,442
2,731
1,495
1,024
94
1,845
1,264
116
391
53
3,784
2,592
572
5,156
2,330
304
268
36
359
1,376
13,923
4,552
1,172
1,698
17,188
5,619
1,447
25
48
3,147
35,243
11,522
2,966
1,942
26,088
8,368
3,068
3,fv10
1.190
306
492
41
7,266
8,970
1,900
257
11,127
lJ6.)54
lJO.465
85,409
3,731
355,959
360,085
Governance costs
Audit fees
Trustees, meeting
expenses
6,658
8.219
.741
14,130
78
14
124
10
6,689
8,297
1,755
16,977
14,140
143,04J
li8,762
87.1fv1
3.967
372,936
374,225
PageJl

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
10 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees..
Trustee meetings incurred expenses for food and drink of £14 (202) £1 O} and £ I l O for training fees {202J.'
£nil}
No trustees, nor any persons connected with them, have received any remunerdtion from the charity during the
year.
No trustees have received any other benefils from the charity during the year.
Donations made by the trustees without any conditions attached totalled £1,350 for the year (2023 - £5,632).
I I Staff eosts
The aggregate payroll costs were as follows=
2024
2023
Staff costs during the year were:
Wages and salaries
Social security costs
Pension cost5
828,218
67,057
75,987
776,485
70,655
86,202
971,262
9Ji,i42
The monthly average number of persons (including senior management team) employed by the charity during
the year was as follows..
2024
2023
Fundraising
Charitable Activities
Raising Awareness
Support Services
12
16
14
28
Contributions to the employee pension schemes for the year totalled £75.987 (2023 - £86,202).
The number of employees whose etnoluments fell within the following bands was:
2024
No
£60,001- £70,000
The total employee benefits of the key management personnel of the charity were £J66,504 (2023 - £J59,017).
The services of volunteers amount to 5.912 hours of unpaid work (202J 9,117 hours). Volunteers work in the
Trust's bookshop, assist at fundraising events and befriend our familles.
Page J2

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
12 Auditors, remuneration
2024
2023
Accountancy fee
Audit of the financial statements
5,056
11,797
4,239
9,891
16,85)
13 Taxation
The charity is a registered charity and is therefore exempt from taxation.
14 Tangible fixed assets
Land
Plant
and
and
buildings equipment
Fiitures
and
rittings
Buildings
Computer improi'ements
equipment Phase 4 & 5
Motor
vehicles
Total
Cost
At l April
2023
2,514,881
J)7,121
62,646
167,760
57,162
lJ2,14J
J,290,680
62,646
(lJ2,143) (132,143)
Additions
Disposals
At31
March 2024 2,514,881
399,767
167,760
81,613
57,162
3,221,183
Depreciation
At l April
202i
Charge for
the year
508,580
158,161
159,272
42,418
939,766
59,957
4,269
2,570
9,684
110,628
Atil
March 2024
568,5J7
192,)09
16),541
52.102
1,050,394
Net book value
At31
March 2024 1,946.344
207.458
4,219
7,708
5.060
2,170,789
At31
March 2023 2,006,iOI
178.960
8,488
10,278
14.744
1)2.14J
2,J50,914
Assets held under finance leases and hire purchase ¢onlra¢ts
The net carrying amount of tangible a55ets includes the following atnount5 in respect of assets held under
finance leases and hire purchase contracts=
2024
2023
Plant and equipment
26,933
Page JJ

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
15 Fixed asset investments
2024
2023
Shares in group undertakings and participating interests
Other investments
80
80
81
Shares in group undertakings and participating interests
Subsidiary
undertaking5
Total
Cost
At l April 2023
At 31 March 2024
Net book value
At 31 March 2024
At J l March 2023
Other investments
Listed
investments
Total
C05t or Valuation
At l April 202)
80
80
At J l March 2024
80
80
Net book value
At 31 March 2024
80
80
At 31 March 202)
80
80
Page J4

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Details of undertakings
Details of the investments in which the charity holds 2￿/0 or more of the nominal value of any class of share
capital are as follows..
Country of
incorporation
Proporlion of voting rights Principal
and shares held
activity
Undertaking
Holding
2024
2023
Subsidiary undertakings
Clover & Thistle Limited UK
Ordinary
IOOO/o
IOOO/o
Dormant
Company
The registered office of the subsidiary company is the same as the Charity.
16 Pension and other 5cheme5
Defined contribution pension scheme
The charity operates a defined contribution pension scheme. The pension cosls charge for the year represents
contributions payable by the charity to the scheme and amounted to £75,987 (202).. £86,202).
17 Commitments
Capital commitments
Capital commitments not provided for in the financial statements include contracts for future capital expenditure
of property, plant and equipment.
As at 31 March 2024 the charity had contracted to purchase garden playground equipment. The total amount
contracted for but not provided in the financial statements was £54,694 (202) - £Nil).
Page J5

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
18 Funds
Balance at
l April
2023
Balance at
31 March
2024
Incoming Resources
resources
expended Transfers
Unrestricted
Generul
Unrestricted funds
767,i84
65J,428 (1.)54,795)
5J9,090
605,107
Designaled
Charitable activity costs
(120,2J4)
221,770
Total Unrestricted
1,109,388
653,428 (1,354,795)
418,856
826,877
Restricted
Accessible play area
Bereavement care
Bluebells running costs
Other
Christmas in July
Respite break5
Cedars roof repairs
Hoists & equipment
Outreach nmning costs
Youth Support
Woodland Trails
Vehicle
Outreach salaries
The Woodlands- Running Costs
The Woodlands
Play Equipment
The Woodlands Phases 4 & 5
The Bluebells
11,276
(1,848)
(78,6J8) (15,434)
(57,890)
(3,000)
(27,028)
(5,987)
(23,495)
(28,104)
(1,)22)
(1,627)
(40,52))
(17,11))
(1,571)
(1,14))
(25,000)
(49,110)
{10,)27) (14i,000)
(88))
9,509
(268,942)
9,428
18,194
57,890
18,100
10,918
28,104
22,474
7,909
858
1,000
4,998
12,800
25,827
4,571
li.750
24,256
6,428
13,750
25,000
49,110
J56,985
203,658
100,J59
250,500
755,049
629,674
776,i17
(110,2J2)
(21,268)
Total restricted
1,92J,8J6
J05.691
(J86,890) (418,856)
1,423,781
Total funds
J,OJ).224
959,119 (1,741,685)
2,250,658
The balance in designated funds at 31 st March 2024 is to fund the following=
- Service delivery salaries at the end of the grant tern]s ivhich are not grant funded
To acquire and install play equipment in tnen]ory of Lola Clatworthy
Provision of redundancy paynents
The transfer in year ending 31 March 2024 between restricted funds and general funds include5 £134,199 made
to reallocate funds that were previously donated to fund the now cancelled Phase 415 work5. The transfer of
£143,000 from the woodlands centre to unrestricted fund5 is to reallocate a prior year balance that was
previously misallocated. The balance of the transfer £18.488 ￿lateS to other unused funds thal the donors have
agreed may be allocated to general fun(ts.
Page J6

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
Balance
al l April Incoming Resources
2022
resource5
expended Transfer5
Balance at
31 March
2023
Unrestricted
General
Unrestricted funds
786,542
936,714 (1,042,377)
86,505
767,384
De5ignaled
Charitable activity costs
245,017
7.003
(80,000)
169,9&1
342,004
Total unrestricted
I,OJ1.559
94).717 (1,122,)77)
256,489
1,109,i88
Restricted
Accessible play area
Activity days
Bereavement care
Bluebells running costs
Other
Respite breaks
Cedars roof repairs
House managers salary
Hoists & equipment
Outreach running costs
Youth Support
Woodland Trails
Vehicle
Outreach salaries
The Woodlands - Running costs
The Woodlands
The Woodlands Phases 4 & 5
The Bluebe115
18,485
(1,849)
(20,954)
(71,525)
(44,029)
(87,J95)
(20,250)
(I,J22)
(22,270)
(3,600)
(39,697)
(48,104)
(1,571)
(1,524)
(161,205)
(31,500)
(39,665)
(10,683) (190,461)
280,967
(21,268) (264, I￿)
(5,360)
11,276
22,949
242
37,958
46,787
54,518
18,500
62,141
1,750
26,500
22270
19,780
5.972
(J,4Jl)
25,833
(1,382)
9,430
34,725
52,417
(16,074)
9,536
1,000
4,313
25,827
4,571
13,750
31,420
36,293
20,893
2,500
558,132
91.151
1.061,749
(4.022)
(30,198)
154,062
68,665
356,985
629,674
776,317
257,556
Total restricted
2,000,064
769,007
(588,746} (256,489) 1,92),8)6
Total funds
3,OJ1,623
1,712.724 (1,711.123)
3,033,224
The balance in designated funds at J I st March 202J IS to fimd the following:
Service delivery salaries at the end of the grant tenns
Service delivery salaries which are not grant funded
- Service delivery salaries which are not fully grant fLmded
- Salary and recruitment of a Chief Executive Officer
Boiler works and fencing for the Bluebells
Fencing for The Woodlands
The transfers between designated funds and general funds were made to ensure a suifjcient balance was held
within designated reserves to fund the costs as described above.
Page J7

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
De5criplion of re51ricledfunds
Accessible play area
Playground at Cedars
Activity days
Funding for Activity Days for benefjciaries
Bereavement Care
Funding for Bereavetnent Care
Bluebells running costs
Rutming costs olThe Bluebells
Cedars roof repairs
Funding for the repair of the roof al Cedars, part of The Woodlands
Hoists & Equipment
Provision of hoists & other specialist equipment
Salary and ongoing costs of employing a House Manager to support
beneficiaries on respile breaks and other activities ai ihe Bluebells
House Managers Salary
Outreach running costs
Running costs of providing outreach services
Outreach salaries
Salaries and ongoing costs of support workers
Respite breaks
Provision of respjte breaks for families
The Bluebells
Building & extension of The Bluebells
The Woodlands
Building & extension of The Woodlands
The Woodlands - Running costs
Rutming costs olThe Woodlands
The Woodlands - Phases 4 & 5
Building of The Woodlands - Phase5 4 & 5
Vehicle
Purchase of vehicle and running costs thereof
Woodland Trails
Development of woodland trails in the grounds of The Woodlands
Salary and ongoing costs of employing specialist staff to support
siblings of beneficiaries.
Youth Support
Other
Combined other smaller donations and related expenses
Page JS

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
19 Analysis of net assets betiveen funds
Total funds at
31 March
2024
Unrestricted funds
General
Designated
Restrieled
funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over l year
919,527
81
1,251,262
2,170,789
1,015,611
(958,622)
()71,520)
221,770
172,519
1,409,930
{958,622)
{371,520)
Total net assets
605,107
221,770
1,42),781
2,250,658
Total fund5 at
31 March
2023
Unrestricted funds
General
Designated
Restricled
funds
Tangible fixed assets
Fixed asset investments
472.417
81
1,878,497
2,350,914
81
Current assets
1,782,409
(1,094,OOJ)
(393,520)
2,169,752
(1,094,003)
(393,520)
Current liabilities
Creditors over l year
Total net assets
1,923,836
J,033,224
20 Financial instruments
Categorisation of financial inslruments
2024
2023
Financial liabilities measured at amortised cost
448.441
503,374
21 Related party transactions
There were no related party transactions in the year.
During the year the charity made the following related party transactions:
(Other than disclosed in notes 10 and I I there were no other related party transactions in the year.)
At the balance sheet date the amount due tolfrom was £Nil (202J - £Nil).
22 Creditors: amounts falling due after one year
2024
2023
Bank loans
371,520
393,520
Page J9

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
23 Loans and overdrafts
2024
2023
Bank loans
393.520
415,520
Payable within one year
Payable after one year
22,000
371,520
22,000
393,520
)9),520
415,520
The long-term loans are secured by fixed charges over The Bluebells and The Woodlands as well as floating
charges over the assets of the Charity.
The loans are repayable over l O years by monthly instalments, a break clause is in place after 5 years and at an
interest rate oli /0 over LIBOR.
24 Stock
2024
2023
Stocks
24,947
25 Obligalions under leases and hire purchase contracts
The total value of future finance lease payments are as follows:
2024
2023
Within one year
At the end of the finance lease terni the equipment becomes the property of Sebastian's Action Trust. The lease
contains no onerous or unusual ternis.
2,776
Assets held under finanee leases
The finance lease relates to a telephone system installed at The Woodlands premises. Total f￿ance charges for
the year amounted to £35 (2023.. £810).
26 Going Concern
Despite the difficult financial landscape that all charities are having to currently navigate, the Trustees are of the
opinion that the Charity is a going concem and will coniinue for the next 12 months. This is due to investment
in the fimdraising team to drive sustainable diversified income. The implementation of a new strategic plan and
service delivery model will ensure beneficiaries are receiving the right care and we can contlnue to deliver our
services over the forthcoming years. The Woodlands sale option, w'hich expires during the )'ear ended March
2026 will release funds for the development of servlces and income generdtion, if accepted. The Board of
Trustees are confident that we have sufficient cash flow to meet our obligations and that we are a going concern.
27 Cash and cash equivalents
2024
2023
Cash at bank
1,353.825
2,056,941
Page 40

Sebastian's Action Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
28 Debtors
2024
2023
Prepayments
Accrued income
25,058
6,100
22,255
54,721
31,158
76,976
29 Creditors: amounts falling due wiihin one vear
2024
2023
Bank loans
Trade creditors
Hire purchase and finance leases
Other taxation and social security
Other creditors
Accruals
Deferred income
22,000
24,656
22,000
59,986
2,727
14,620
5,668
19,473
969,529
17,371
6,155
24,110
864,JJO
958.622
1,094,003
Deferred income
2024
2023
Deferred income at l April 202J
Resources deferred in the period
Amounts released from previous periods
969,529
60,061
909,468
(105,199)
Deferred income at year end
864,JJO
969,529
Deferred income arises where grants are subject to a perforniance condition related to the timing of their use.
These grants are released to income in accordance ivith the relevant time period.
30 Analysis of changes in net debt
Asatl
April 2023
Asat31
March 2024
Cash flows
Cash and cash equivalents
Cash
Overdrafts
2,056,941
(703,116)
1,353,825
2,056,941
(70),116)
1,35),825
Borrowings
Short terni borrowings
Hire purchase and finance leases
Long terni borrowings
(22.000)
{2.727)
{39),520)
(22,000)
2,727
22.000
{371,520)
(418,247)
24.727
(393,520)
(1,6)8,694)
678,)89
{960,305)
Page41